Time Out Group Bundle
Who Really Owns Time Out Group?
Ever wondered who steers the ship behind the global media and hospitality powerhouse, Time Out Group? Knowing the answer is key to understanding its future. From its humble beginnings in London to its current global presence, the company's ownership story reveals much about its strategic direction and potential.
The journey of Time Out Group SWOT Analysis is a fascinating case study in media evolution, starting with Time Out London. Understanding the current ownership structure, including major shareholders and the influence of its IPO, provides crucial insights into how this global brand makes its decisions. This exploration will help you understand the dynamics of Time Out ownership.
Who Founded Time Out Group?
The origins of the Time Out Group trace back to 1968, when Tony Elliott, using £70 from his birthday, launched the first edition of the magazine in London. Initially conceived as a one-sheet pamphlet, it quickly evolved into a comprehensive guide to city life. Bob Harris co-edited during the early stages, contributing to the magazine's initial development.
The magazine's name, 'Time Out,' was inspired by Dave Brubeck's album of the same name, a choice reflecting the publication's focus on leisure and cultural activities. The early issues had a modest print run of about 5,000 copies, reflecting its roots as an alternative publication. The magazine's content covered a wide range of topics, including art, film, gigs, theatre, and restaurants, reflecting the founding vision of providing comprehensive information about city life.
By 1980, the decision-making structure shifted away from its initial collective approach. Tony Elliott remained the sole owner of the Time Out Group until November 2010, solidifying his control over the media venture. The magazine's evolution from a counter-culture pamphlet to a significant media entity underscores the impact of its founder's vision.
Key Ownership Facts
Tony Elliott's initial investment of £70 in 1968 marked the beginning of the Time Out Group. The magazine's early years were characterized by its alternative, counter-culture ethos. The magazine's content was designed to provide comprehensive information about city life.
- Tony Elliott founded Time Out.
- Bob Harris was a co-editor in the early stages.
- The magazine was initially titled 'Where It's At.'
- The initial print run was approximately 5,000 copies.
For a deeper understanding of the competitive landscape, explore the Competitors Landscape of Time Out Group.
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How Has Time Out Group’s Ownership Changed Over Time?
The ownership structure of Time Out Group has seen significant changes over the years. A pivotal moment occurred in November 2010 when Tony Elliott, the founder, sold a portion of the company to Oakley Capital. This deal, valuing the company at £20 million, provided essential funding for digital expansion. Before 2016, the ownership was shared between Tony Elliott and Oakley Capital.
The company's trajectory shifted further in June 2016 when Time Out Group plc (AIM: TMO) went public on the London Stock Exchange's AIM market, raising £90 million. This move marked a transition from private to public ownership, attracting new investors and providing capital for further growth. These changes have been instrumental in Time Out Group's transformation, supported by the continued significant stake of Oakley Capital, from a print-focused media business to a global media and hospitality company, with a strong emphasis on its Time Out Market food halls.
| Event | Date | Impact |
|---|---|---|
| Oakley Capital Investment | November 2010 | Provided capital for digital expansion, valuing the company at £20 million. |
| Initial Public Offering (IPO) | June 2016 | Raised £90 million, transitioning the company to public ownership. |
| Ongoing Ownership | Late 2024/Early 2025 | Oakley Capital Investments Limited remains the largest shareholder, supporting the company's strategic direction. |
As of November 2024, the largest shareholder of Time Out Group plc is Oakley Capital Investments Limited, holding 37.77% of the shares. Other major institutional shareholders as of late 2024 and early 2025 include Lombard Odier Asset Management (Europe) Ltd. with 27.64% (as of September 2024) and Janus Henderson Investors UK Ltd. with 6.43% (as of May 2025). The market capitalization of Time Out Group was $116 million as of December 31, 2024, with 357 million shares. The evolution of ownership has played a crucial role in shaping the company's strategy, as highlighted in a detailed analysis of the Growth Strategy of Time Out Group.
Key Ownership Facts
The ownership structure of Time Out Group has evolved significantly over time, with key changes impacting its strategic direction.
- Oakley Capital remains a significant shareholder.
- The IPO in 2016 marked a transition to public ownership.
- Market capitalization stood at $116 million as of December 31, 2024.
- The company's focus has shifted towards Time Out Market food halls.
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Who Sits on Time Out Group’s Board?
As of early 2025, the Board of Directors of Time Out Group plc includes a mix of executive and non-executive members, according to the company's Annual Report & Accounts for the year ended June 30, 2024, and subsequent updates. Peter Dubens serves as the Non-Executive Chairman, and David Till is also a Non-Executive Director. Chris Ohlund holds the position of Group Chief Executive Officer, and Matt Pritchard is the Group Chief Financial Officer. Other Non-Executive Directors include Lord Stuart Alan Ransom Rose and Alexander Fiske Collins. The leadership structure reflects a blend of financial expertise and strategic oversight.
The significant presence of Oakley Capital, with Peter Dubens as a key figure, indicates a strong influence over the company's direction. The structure of the board and the ownership dynamics are crucial for understanding the strategic decisions and overall governance of the company. The company's focus on media and experiences is reflected in its board composition, which is designed to manage and grow its diverse portfolio.
| Director | Role | Notes |
|---|---|---|
| Peter Dubens | Non-Executive Chairman | Founder and Managing Partner of Oakley Capital |
| David Till | Non-Executive Director | Co-founder of Oakley Capital Group |
| Chris Ohlund | Group Chief Executive Officer | Executive Director |
| Matt Pritchard | Group Chief Financial Officer | Executive Director |
| Lord Stuart Alan Ransom Rose | Non-Executive Director | |
| Alexander Fiske Collins | Non-Executive Director |
The voting structure of Time Out Group plc is straightforward, with a one-share-one-vote principle. As of November 30, 2024, the company had 357,265,783 issued and fully paid shares, each carrying one vote. This structure ensures that voting power is directly proportional to share ownership. The influence of major shareholders, such as Oakley Capital, is significant due to their substantial holdings. Understanding the ownership structure is essential for grasping how strategic decisions are made. For more insights into the company's audience, consider reading about the Target Market of Time Out Group.
Key Takeaways on Time Out Group's Leadership
The Board of Directors includes a mix of executive and non-executive members, with Peter Dubens as Non-Executive Chairman. Oakley Capital, with Peter Dubens and David Till, holds a significant influence over strategic decisions.
- One-share-one-vote voting structure.
- Substantial influence from major shareholders.
- Board composition reflects media and experiences focus.
- No recent proxy battles or activist campaigns reported.
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What Recent Changes Have Shaped Time Out Group’s Ownership Landscape?
Over the past few years, Time Out Group has been actively expanding its Time Out Market concept and digital platforms. The company's focus remains on growing its physical and digital presence. Recent financial reports show a mixed performance, with revenue for the six months ended December 31, 2024, at £50.9 million, a 3% decrease year-over-year, influenced by the media sector's challenges. However, the Market division saw a positive trend, with a 12% increase in net revenue to £36.5 million.
In early 2025, Time Out Group secured additional growth capital through a convertible loan note instrument, raising £5.0 million. This financial maneuver underscores the company's commitment to expansion, particularly in its Market division. The company is also focused on opening new markets, with recent openings in Barcelona (July 2024) and Bahrain (December 2024), and upcoming openings in Osaka (March 2025) and Union Square, New York City (autumn 2025). The company aims to have between 40 and 50 Market sites globally in the medium term.
| Metric | Value | Period |
|---|---|---|
| Revenue | £50.9 million | Six months ended December 31, 2024 |
| Market Division Net Revenue Growth | 12% | Year-over-year |
| Adjusted EBITDA | £12.4 million | Full year ending June 30, 2024 |
The company's stock price has fluctuated. Its 52-week range was between 20.20p and 57.00p as of June 2025, reflecting the market's response to the company's performance and expansion strategy. Time Out Group's financial health and ownership structure are key indicators of its future prospects. The company's ability to secure funding and expand its market presence is critical.
Time Out Group's Strategy
Time Out Group is focused on expanding its Time Out Market concept and digital platforms. This expansion includes opening new markets and securing additional funding. The company aims for 40 to 50 Market sites globally in the medium term.
Financial Performance
The company's revenue for the six months ended December 31, 2024, was £50.9 million. The Market division showed strong growth. Adjusted EBITDA for the full year ending June 30, 2024, was £12.4 million.
Recent Developments
Time Out Group raised £5.0 million through a convertible loan note in February 2025. New Markets opened in Barcelona and Bahrain. The Osaka market is set to open in March 2025, and Union Square, NYC, in autumn 2025.
Stock Performance
The stock price has fluctuated. The 52-week range was between 20.20p and 57.00p as of June 2025. This indicates the market's reaction to company performance and expansion strategies.
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